The new instant transfer system called Pix has been operational since Monday. Transactions can be completed in 10 seconds. A giant leap in the digital transition, according to the central bank.

The Brazilian central bank in São Paulo

Almost instantaneous transactions, at a ridiculous cost, greater competition between financial institutions, a boost to fintech and more banking inclusion… The promises of the “Pix”, the new instant transfer system launched by the central bank Brazilian women are numerous.

On paper, the Pix has a lot to contribute to the Brazilian financial system. First, by its simplicity and speed. Transfers are completed in 10 seconds, any time of day or night, seven days a week. A significant improvement. Today, money transfers can take up to 48 hours.